Fact Pattern 23-A1

question 47

Multiple Choice

Fact Pattern 23-A1
Bret, a representative of Concrete Products, Inc. assures Dependable Construction Company that Concrete's cement will not crack within a certain range of temperatures. DCC uses the product. When cracks develop within the stated temperature range, DCC files a suit against Concrete.
-Refer to Fact Pattern 23-A1. The court is most likely to rule in favor of

• A) Concrete, because Bret's statement was an expression of opinion.
• B) Concrete, because DCC chose Concrete's product voluntarily.
• C) DCC, because Bret's statement was an express warranty.
• D) DCC, because Concrete's product is not fit for its purpose.

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Definitions:

Opportunity Loss Table

A table used in decision making to show the lost opportunities or costs associated with not choosing the best alternative.

Expected Monetary Value(EMV)

A method employed in making decisions that calculates the mean result in situations where the future holds potential but uncertain events.

Expected Monetary Value

The predicted average amount of money gained or lost from an investment or decision, calculated by considering all possible outcomes and their probabilities.

Gross Profits

Total revenue of a company minus the cost of goods sold.